Fincantieri and CSSC in China cruise play

Under the agreement signed today (4 July), vessels will be built at CSSC’s Shanghai Waigaoqiao Shipbuilding (SWS) facility under a technological platform licensed by Fincantieri to the joint venture and SWS. Fincantieri will also provide consultancy services and supply key vessel components to both the joint venture and SWS.

Giuseppe Bono, CEO of Fincantieri, noted that Carnival Corporation will purchase the vessels covered by the agreement.

“This agreement highlights once again Fincantieri’s technical and technological leading position and places us at the center of a project supported directly by the Chinese government in the form of a very ambitious project,” said Bono. “The presence of our main customer Carnival is also of fundamental importance for the project’s success.”

According to the Chinese Ministry of Transport the cruise market in China reached one million passengers in 2015 and is projected to hit 4.5 million passengers by 2020 – making China the world’s second largest cruise market after the US. If projections of 8-10 million passengers by 2030 are realised, China will become the biggest global market overall for cruise passengers.

Wu Qiang, president of CSSC, added: “Signing the cruise shipbuilding joint venture agreement with Fincantieri is another milestone event for CSSC, for the history and development of China’s cruise industry, as well as for the cooperation between China’s and Italy’s shipbuilding industry. Joining forces will give new vitality to the rapid growth of China’s and the Asia Pacific cruise market. We look forward to working together with Fincantieri, Carnival, CIC (China Investment Corporation) and other strategic partners to build and deliver China’s first domestic large cruise ship.”